Plumsteadville Bankruptcy & Debt Lawyer, Pennsylvania

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Carrie Elizabeth Worton

Civil & Human Rights, Bankruptcy & Debt
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  14 Years

David Kennedy Bifulco

Bankruptcy & Debt, Foreclosure, Contract, Lawsuit & Dispute, Real Estate
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  15 Years

FREE CONSULTATION 

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David L. Marshall

Lawsuit & Dispute, Divorce & Family Law, Business, Bankruptcy & Debt
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  51 Years

Dennis R. Bartholomew

Landlord-Tenant, Child Custody, Collection
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  42 Years

Diana M. Dixon

Bankruptcy, Commercial Bankruptcy, Consumer Bankruptcy
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  44 Years

Gilbert J. Golding

Wills & Probate, Family Law, Commercial Banks, Bankruptcy & Debt, Defamation & Slander
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

Jacqueline Lesley Fishman

Traffic, Divorce, DUI-DWI, Bankruptcy
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  19 Years

Jeffrey Colin Mccullough

Real Estate, Bankruptcy
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  42 Years

John M. Adelstein

Bankruptcy & Debt, Bankruptcy, Collection, Credit & Debt, Reorganization
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           

FREE CONSULTATION 

CONTACT

John Fletcher Elder

International, Estate, Corporate, Bankruptcy & Debt
Status:  In Good Standing *Status is reviewed annually. For latest information visit here           Licensed:  20 Years

Free Help: Use This Form or Call 800-814-6700

Member Representative

Call me for fastest results!
800-814-6700

Free Help: Use This Form or Call 800-814-6700

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LEGAL TERMS

PRIORITY DEBT

A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13... (more...)
A type of debt that is paid first if there are distributions made from the bankruptcy estate in a Chapter 7 bankruptcy, and must be paid in full in a Chapter 13 bankruptcy. Priority debts include alimony and child support, fees owed to the trustee and the attorney in the bankruptcy case, and wages owed to employees.

DISCHARGE (OF DEBTS)

A bankruptcy court's erasure of the debts of a person or business that has filed for bankruptcy.

FRATERNAL BENEFIT SOCIETY BENEFITS

These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal socie... (more...)
These are benefits, often group life insurance, paid for by fraternal societies to their members. Elks, Masons or Knights of Columbus are common fraternal societies that provide benefits. Also called benefit society, benevolent society or mutual aid association benefits. Under bankruptcy laws, these benefits are virtually always considered exempt property.

UNDUE HARDSHIP

The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in t... (more...)
The circumstances in which a debtor may discharge a student loan in bankruptcy. For example, a debtor who has no income and little chance of earning enough in the future to pay off the loan may be able to show that repayment would be an undue hardship.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)
A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

FRAUDULENT TRANSFER

In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee --... (more...)
In a bankruptcy case, a transfer of property to another for less than the property's value for the purpose of hiding the property from the bankruptcy trustee -- for instance, when a debtor signs a car over to a relative to keep it out of the bankruptcy estate. Fraudulently transferred property can be recovered and sold by the trustee for the benefit of the creditors.

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)
An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

SECURED DEBT

A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collater... (more...)
A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

TRUTH IN LENDING ACT (TILA)

A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disc... (more...)
A federal law that requires credit and charge card companies to disclose interest rates and other information about an account. It also requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate and the number, amount and due dates of all payments necessary to repay the loan. The TILA requires additional disclosures and places many restrictions on mortgages.

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